Amazon’s UK Sales Not Affected After Brexit

Jul 20, 2016

Online retailers are worried about the long-term implications of the Brexit vote. Most of them expect both labor costs and shipping to get more expensive as the border between the UK and the rest of Europe would easily be crossed.

Brexit hasn’t hurt online retailer Amazon’s sales in the UK. The company hasn’t noticed a fall in  its British sales after the country voted to leave the EU.

UK Amazon Sales

UK country manager Doug Gurr has recently mentioned the sales meet their expectations. Moreover, the Seattle-based company is going to open 1.000 new jobs throughout the UK by the end of 2016.

However, Gurr also added that it’s too soon to state that the problems mounting for other retailers won’t eventually affect Amazon. According to Gurr, lots of details should still be worked out since they don’t have a clear idea of the future of the regulatory environment.

With this in mind, it is highly important for merchants to apply to only a reliable payment processor like eMerchantBroker in the field. EMB is the #1 high risk merchant account provider in the US and boasts an A+ rating with the BBB.

Amazon’s Future Plans

In 2015, Amazon created 2.500 new jobs there and announced its plans to add 2 new fulfillment centers and open additional UK data centers. Together with already mentioned 1.000 new jobs in the UK, Amazon UK employee footprint will reach 15.500. This is a large employee base, so some issues will probably emerge with regard to EU/UK citizenship status post-Brexit.

Gavin Jackson, Amazon Web Services UK chief, notes the best response to the Brexit vote is not to stop investing. As Jackson mentioned during AWS Summit UK, their message is to keep calm and go on innovating in the UK, in cloud computing and AWS. According to Microsoft CEO Satya Nadella, the company would continue making investments in the UK despite the vote.

As for US companies, it will take them years to get seriously hit by the impacts of the Brexit vote. Many experts think tech companies are going to be hit hardest.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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